Cash Deposits Used for Son’s Credit Card Payments Explained – Addition & Penalty Deleted-ITAT Ahmedabad

Radha Chandrababu Panikar Vs ITO (ITAT Ahmedabad)

Assessee, a non-filer of returns, was subjected to reassessment u/s 147 on information that cash deposits of ₹11.75 lakh were made in her bank account. AO passed ex parte order u/s 144 treating deposits as unexplained. Before NFAC, Assessee explained that deposits were sourced from loans given by her husband & brother & partly from tuition income. NFAC, however, confirmed the addition citing lack of corroborative evidence.

Tribunal noted that Assessee had no regular taxable income in past or future. Bank statement s

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